Lam Research Co. (NASDAQ:LRCX) Shares Purchased by Huntington National Bank

Huntington National Bank increased its stake in shares of Lam Research Co. (NASDAQ:LRCX) by 2.8% in the 3rd quarter, HoldingsChannel reports. The firm owned 28,235 shares of the semiconductor company’s stock after buying an additional 770 shares during the quarter. Huntington National Bank’s holdings in Lam Research were worth $23,042,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of Lam Research during the 2nd quarter worth approximately $32,000. RFP Financial Group LLC grew its stake in Lam Research by 52.2% in the 2nd quarter. RFP Financial Group LLC now owns 35 shares of the semiconductor company’s stock worth $37,000 after acquiring an additional 12 shares during the period. Hobbs Group Advisors LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $40,000. Country Trust Bank purchased a new stake in Lam Research in the 2nd quarter worth approximately $43,000. Finally, MFA Wealth Advisors LLC purchased a new stake in Lam Research in the 2nd quarter worth approximately $45,000. 84.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on LRCX. B. Riley lowered their price objective on shares of Lam Research from $132.50 to $105.00 and set a “buy” rating for the company in a research note on Wednesday, October 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. Cantor Fitzgerald reissued a “neutral” rating and set a $100.00 price objective on shares of Lam Research in a research note on Thursday, October 24th. UBS Group decreased their price target on shares of Lam Research from $125.00 to $115.00 and set a “buy” rating for the company in a research report on Thursday, September 12th. Finally, Wells Fargo & Company decreased their price target on shares of Lam Research from $88.00 to $85.00 and set an “equal weight” rating for the company in a research report on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.03.

Insider Buying and Selling at Lam Research

In other Lam Research news, CAO Christina Correia sold 647 shares of Lam Research stock in a transaction on Tuesday, October 1st. The stock was sold at an average price of $817.51, for a total value of $528,928.97. Following the completion of the transaction, the chief accounting officer now owns 4,267 shares in the company, valued at approximately $3,488,315.17. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.29% of the company’s stock.

Lam Research Price Performance

Lam Research stock opened at $73.85 on Thursday. The company has a debt-to-equity ratio of 0.53, a current ratio of 2.53 and a quick ratio of 1.74. The company has a market capitalization of $95.02 billion, a PE ratio of 23.87, a price-to-earnings-growth ratio of 1.20 and a beta of 1.48. Lam Research Co. has a one year low of $68.39 and a one year high of $113.00. The business has a 50 day simple moving average of $77.42 and a 200 day simple moving average of $88.34.

Lam Research (NASDAQ:LRCX) last posted its earnings results on Wednesday, October 23rd. The semiconductor company reported $0.86 EPS for the quarter, topping the consensus estimate of $0.81 by $0.05. The business had revenue of $4.17 billion during the quarter, compared to the consensus estimate of $4.06 billion. Lam Research had a return on equity of 50.60% and a net margin of 26.02%. Lam Research’s revenue was up 19.7% on a year-over-year basis. During the same quarter last year, the company earned $6.85 EPS. On average, sell-side analysts forecast that Lam Research Co. will post 3.52 EPS for the current fiscal year.

Lam Research Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Wednesday, December 11th will be given a $0.23 dividend. The ex-dividend date of this dividend is Wednesday, December 11th. This represents a $0.92 annualized dividend and a yield of 1.25%. Lam Research’s payout ratio is 29.74%.

Lam Research Profile

Lam Research Corporation designs, manufactures, markets, refurbishes, and services semiconductor processing equipment used in the fabrication of integrated circuits. The company offers ALTUS systems to deposit conformal films for tungsten metallization applications; SABRE electrochemical deposition products for copper interconnect transition that offers copper damascene manufacturing; SOLA ultraviolet thermal processing products for film treatments; and VECTOR plasma-enhanced CVD ALD products.